TERMINATION OF THE CONVERTIBLE LOAN AGREEMENT Sample Clauses

TERMINATION OF THE CONVERTIBLE LOAN AGREEMENT. Pursuant to the CLA Announcement dated 30 December 2023, the Company had entered into the Convertible Loan Agreement to terminate the Deposit Agreement and restructure the Deposit, such that the Deposit is recharacterised as a convertible loan that may be converted into Target Shares upon a Listing or a Qualifying Trade Sale. Subsequently on 18 January 2024, the Company announced that certain provisions of Chapter 10 of the Catalist Rules will be applicable to the Convertible Loan Agreement, and after further discussions with the SGX RegCo, the Company had sought to amend the Convertible Loan Agreement such that the provision of the convertible loan under the Convertible Loan Agreement will be made conditional on obtaining Shareholders’ approval at an EGM to be convened. Thereafter, the Company, the Target and the Borrower have discussed the above-mentioned requirements and instead decided to terminate the Convertible Loan Agreement due to potential cost concerns and the degree of complexity involved. Therefore, the Board wishes to announce (this “Announcement”) that at as of 04 March 2024, the Company, the Target and the Borrower have mutually agreed to terminate the Convertible Loan Agreement (save for provisions expressed or intended to survive such termination). Neither the Company, the Target nor the Borrower shall have any claim against the other parties for costs, damages, compensation or otherwise, save for any claim arising from any antecedent breach of the Convertible Loan Agreement. Nevertheless, the Borrower remains liable to repay the proceeds of S$1,000,000 that were previously received (the “Loan Proceeds”), on the terms and conditions set out in the termination agreement (the “Agreement”). The salient terms of such repayment are as follows:
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Related to TERMINATION OF THE CONVERTIBLE LOAN AGREEMENT

  • Termination and Amendment of this Agreement This Agreement shall automatically terminate, without the payment of any penalty, in the event of its assignment. This Agreement may be amended only if such amendment is approved (i) by Underwriter, (ii) either by action of the Board of Trustees of the Trust or at a meeting of the Shareholders of the Trust by the affirmative vote of a majority of the outstanding Shares, and (iii) by a majority of the Trustees of the Trust who are not interested persons of the Trust or of Underwriter by vote cast in person at a meeting called for the purpose of voting on such approval. Either the Trust or Underwriter may at any time terminate this Agreement on sixty (60) days' written notice delivered or mailed by registered mail, postage prepaid, to the other party.

  • of the Loan Agreement Section 14.1.1(c)(iii) of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

  • Termination of Existing Credit Agreement Receipt by the Administrative Agent of evidence that the Existing Credit Agreement concurrently with the Closing Date is being terminated and all Liens securing obligations under the Existing Credit Agreement concurrently with the Closing Date are being released.

  • Financing Agreement This Amendment shall constitute a Financing Agreement.

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • SUBORDINATION OF AGREEMENT 18.1 The parties hereto and the employees of the City are governed by the provisions of applicable Federal Law, State Law, and the City Charter. When any provisions thereof are in conflict with the provisions of this Agreement, the provisions of said Federal Law, State Law, or City Charter are paramount and shall prevail. 18.2 The parties hereto and the employees of the City are governed by applicable City Ordinances and said Ordinances are paramount except where they conflict with the express provisions of this Agreement.

  • Amendment of Loan Agreement The Loan Agreement is hereby modified and amended as follows:

  • Termination of Existing Agreement The Existing Agreement is hereby terminated and replaced and superseded by this Agreement, effective August 1, 2001. All payments, of Base Salary or otherwise, made by the Company under the Existing Agreement with respect to any period commencing on or after August 1, 2001 shall be credited against the corresponding payment obligations of the Company under this Agreement.

  • Duration, Termination and Amendments of this Agreement This Agreement shall become effective as of the day and year first above written, shall govern the relations between the parties hereto thereafter and shall remain in force for a period of two years from its effectiveness, on which date it will terminate unless its continuance with respect to a Fund after that date is "specifically approved at least annually" (a) by the vote of a majority of the Trustees of the Trust who are not "interested persons" of the Trust or of Citi Management at a meeting specifically called for the purpose of voting on such approval, and (b) by the Board of Trustees of the Trust or by "vote of a majority of the outstanding voting securities" of the Fund. This Agreement may be terminated at any time with respect to a Fund without the payment of any penalty by the Trustees or by the "vote of a majority of the outstanding voting securities" of the Fund, or by the Manager, in each case on not more than 60 days' nor less than 30 days' written notice to the other party. This Agreement shall automatically terminate in the event of its "assignment." This Agreement may be amended with respect to a Fund only if such amendment is approved by the "vote of a majority of the outstanding voting securities" of the Fund (except for any such amendment as may be effected in the absence of such approval without violating the 1940 Act).

  • Termination and Amendment 53 8.1. TERMINATION.............................................................................53 8.2.

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